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Probably much much lower. If this was 2020 or 2021, perhaps, but multiples haven't even in that high in the public market for high growth companies for the past few years


You can do approximate math from Series C, where they raised $130M at $1.5B valuation - announced in May 2021. The ARR multiples in 2021 was 50X NTM ARR. They potentially hit $30M by end of 2021 (raised sometime late 2020/early 2021).

Now even if they grew at 40-50% YoY CAGR (which is on the bullish side) - $60M-$70M ARR, approximately giving them a 10-12x ARR multiple for NTM revenue, put them squarely in the median to high-end valuation mutiple for PLG companies growing at 30-50% YoY (https://www.meritechcapital.com/benchmarking/historical-trad...)




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